The Coca-Cola Company is the leading beverage company in the world. It refreshes its customers with more than five hundred still and sparkling brands. Coca-Cola is one of the company`s recognizable and valuable brands. Also featured in the company’s portfolio are sixteen billion-dollar brands which include Sprite, Fanta, Diet Coke, vitamin water, Coca-Cola Zero, Minute Maid, Powerade, Del Valle, Simply and Georgia. Coca-Cola company makes over 1.6 billion servings every day. It operates through a franchised system of distribution dating from the year 1889. The company just produces the concentrate which it sells to different bottlers located all over the world. However, the company has its own anchor bottler located in North America.
In its philosophy, the company uses five key lessons. Firstly, the company believes in not fixing what is not broken. The company learnt of the lesson after tampering with one of their beloved brands in 1985 and replaced the brands name with “New Coke.” It did not take long before the company received complaints from the members of public who strongly suggested having their old Coke back. The company responded shortly and re-introduced “Classic Coke,” whose sales pick up. In spite of “New Coke” remaining on the shelves, it slowly vanished in Coca-Cola stores. Secondly, the company also believes that expansion may call for a bigger umbrella. The lesson is learnt from Navistar International formerly known as International Harvester. This company traded its farm equipment company and indulged in diesel engine, bus and truck markets. The company broadened its brand and in 2013, the company had resilient connotations of direction and movement.
Thirdly, the company holds on to the idea of respecting its heritage, however, preventing it not to stand in the middle of the way as far as making of their brand to be compelling and relevant is concerned. Another philosophy the company holds onto is making their name not only understandable and accessible, but also intuitive in meaning. It borrows idea from the bookseller “Amazon,” named after the river since it is large. The website’s name still holds relevance till to date. Lastly, the company avoids initials in branding its products. This is for the purpose of reflecting on the market needs and marketing objective.
For the company to remain relevant for generations to come and remain competitive despite the changing economic trends, its mission and vision statements play key roles. The mission of the company is to refresh people in the world, inspire happy and optimistic moments, make a difference and create value. The vision of the company serves as reference to each aspect of the business, outlining what the company needs to achieve for sustainable and quality growth. Generally, the company’s vision is to ensure that the needs and desires of each person in the world are met starting with its workers, partners, suppliers and consumers.
The culture of Coca-Cola is just simple: win. It distinguishes its behavior and attitude and also reminds them of a vision they have to accomplish. Besides, it supports and sponsors various kinds of sports all over the world. However, the company has to live by its values of quality, diversity, passion, accountability, integrity, collaboration and leadership. The leadership of the company is by a board of directors. They are helped by a number of senior operations leaders and senior functional leaders. These provide the company with shrewd administration making the company remain focused to achieve its goals.
Blue, S. (2014, February 20). Insurance Business America. Retrieved from Ezlynx: http://en.wikipedia.org/wiki/Coca-Cola
Company, C.-C. (2013, June 9). Our Company. Retrieved from CocaCola Journey: http://www.coca-colacompany.com/our-company/mission-vision-values
Giebelhaus, A. W. (2008). Coca-Cola Company. In The New Georgia Encyclopedia (pp. pp55-pp58). Atlanta: Georgia Humanities Council.
J, E. B. (2013). An Environmental and Political History of the Coca-Cola Company. Citizen Coke, pp717-731.
Searle, K. (2014, February 12). Coca-Cola ad changes American values. Retrieved from The Vista: http://theusdvista.com/2014/02/12/coca-cola-ad-changes-american-values/